Bitcoin

Decentralized Data Warehouse Space and Time Raises $20 Million And Launches On Microsoft Azure Soon

Bridging the gap between real-world data and smart contracts remains an intriguing proposition. Space and Time, recently securing $20 million in funding from Microsoft’s M12 and investors such as Polygon, Fellows Fund, Mysten Labs, MarketAcross and others. The project aims to Bridge the gap between enterprise database data and smart contracts which can lead to […]

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Bitcoin (BTC) Price To Reach In Millions By 2030, Says Analyst

A well-known, conservative crypto analyst gave a bullish commentary about the price of Bitcoin. According to a YouTuber, further proliferation of the digital asset will cause a steady rise of BTC to a million dollars. On a YouTube video, InvestAnswers signaled that BTC is approaching diminishing returns. Diminishing return is when an asset gets to a point where increased future investment yields less profit. The crypto analyst said that BTC yields investors five times less profit every new market cycle in comparison to the previous one.  Related Reading: Bitcoin Price Crashes To $19,000, But Stays Strong Against Other Assets Bitcoin Primed To Trade For Millions Of Dollars By The Year 2030 However, the analysts gave a different view on bitcoin that was in contrast with the apparent diminishing return of the digital asset. They cited that the value of networks grows as the number of participants increases, according to Metcalfe’s law.  If Bitcoin follows the trend of disruptive networks like cellphones and the internet, applying Metcalfe’s law projects a bullish case scenario for bitcoin. In that vein, a modest consideration of BTC’s future price will put it at over a million dollars by the year 2030.  The host made it clear that this prediction was strictly based on the scientific possibility that Metcalfe’s law holds for the number one cryptocurrency in the world. It is, however, not subject to wishful thinking. According to the analyst, the bitcoin digital assets’ adoption follows the historical patterns of preceding technologies.  Quite like InvestAnswers, there have been several sightings of multiple users across the internet, supporting the future appreciation of bitcoin’s price.  Crypto Market Cycles  Since speculation says bitcoin is still bullish in the long run, many are looking forward to taking advantage of the next market cycle.  The market cycle explains the ebb and flow of a market. Usually, new markets have a slow start. They pick off from a point where people show little or no interest. But as interest in the asset starts to increase, demand rises, and its price starts to inflate as a result. A complete market cycle has four phases: accumulation, markup, distribution, and markdown.  Related Reading: Do Kwon Statement: A Possible Trigger For Terra Tokens Price Surge As mounting interest takes the price of the commodity to new highs, it gets to a point where it eventually peaks. Investors become satisfied with their returns. And then sell off the asset causing tremendous sell pressure. Therefore, the price begins to drop. After one market cycle ends, the next begins shortly. Bitcoin Price Action  Bitcoin has roughly ranged between $22,000 and $18,000 for most of the 3rd quarter of this year. Investors are keenly eyeing the condition of the broader market as a go-ahead to pump funds into risky assets like bitcoin. Featured image from Pixabay and chart from TradingView.com

Crypto News

Geeq granted a US patent for the protocol’s security and scalability features

Geeq, a Canada-based blockchain company, has been granted a patent in the United States for features of its multi-blockchain, layer-zero protocol’s security and scalability systems, according to a press release. Details found in the patent’s application describe a technology termed “Proof of Honesty,” which is Geeq’s alternative to predominant proof-of-work and proof-of-stake consensus mechanisms. Additionally, Geeq alleges that its system of federated blockchains is able to ensure security and achieve “infinite scalability.” According to the patent application: “If there is at least one honest node, it will write an honest block to a valid chain. Users are able to discover honest chains and will always choose it for their transactions. Dishonest chains become orphaned.” Geeq also claims that having flexibility built into the protocol, which can create additional chains during periods of increased network activity and then merge chains when transaction volume decreases, keeps the cost of transactions more affordable as well as 99% Byzantine fault-tolerant. In the press release, Geeq CEO Ric Asselstine noted that gaining the approval of the patent “marks a critical point in time for Geeq as we push forward aggressively with the development of transformative solutions for previously intractable problems.” One of these “previously intractable problems” is the poor user experience when using blockchain technology due to the complexities of interacting with smart contracts. Geeq noted in the press release that instead of having users interact directly with smart contracts, a suite of applications that facilitate the most common types of transactions makes it so that “the end user is able to focus on what they gain rather than worry about potential exploits, complex coding dependencies, or the downstream effects of governance decisions.” In a company blog post, Geeq stated that its launch strategy would not include a private nor public beta but would instead consist of soft-launching features as they are developed and fixing bugs as they are found  — reminiscent of Telsa’s software updates that rollout new features over time or security fixes included in every iOS update. Geeq has also received funding from major players in the space such as GEM Capital, which committed $25 million in August 2022. Geeq CEO Asselstine said with this funding, the company/protocol is now “ready to bring enterprise and individuals into the metaverse and Web3.”    

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FTX Wins Auction For Voyager Digital Assets, Valued Over $1B

Voyager Digital has officially completed it’s auction for acquisition, with powerhouse exchange FTX securing the winning bid, according to emerging reports (and confirmed via press release) in recent hours. Reports in recent weeks had stated that the flagship exchange was in the bidding mix with competitors Binance and CrossTower, with all three supposedly in the final running for Voyager’s assets – and each of which were supposedly offering unique packages in the bidding process. With FTX coming out on top, let’s take a look at what sort of implications can lie from this acquisition moving forward. FTX & Acquisitions  FTX has long sought a ‘growth by acquisition’ model with mixed results. The firm is currently in the process of working through an acquisition of CeFi crypto lender BlockFi, which sought to avoid the same fate as competitor Celsius. FTX’s U.S. division is looking to acquire BlockFi, and can now add Voyager Digital to it’s list of new assets to build the FTX rolodex. While the aforementioned Binance and lesser-known exchange CrossTower were reportedly in the mix, it was FTX who came out with the most appetizing bid – despite rumors that Binance’s offer included a large cash sum payment. Rumors had swirled in recent days around the deal’s closing, with commentators suggesting that FTX would shell out $50M in cash in it’s bid, and that the company desired that existing Voyager customers were moved over the FTX platform – where they could claim a pro rata share of the coins the debtors possess from the existing Voyager accounts. It remains to be seen if and how that will play out. According to the press release, FTX’s winning bid is valued at roughly $1.4B. Voyager Digital (VOYG) is traded on OTC market, TSX, and has seen value dilution commensurate with the platform’s downfall. | Source: TSX: VOYG on TradingView.com Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Where Things Go From Here The closing of the deal will allow FTX to finalize acquisition of Voyager’s assets, but the timeline around these processes is still murky. Voyager can now still move forward with it’s Chapter 11 filing and look to reconcile debtors and former customers to some degree – but certainly not wholly. Nonetheless, FTX will see all of Voyager’s assets and customer accounts moved under their umbrella. The move is likely seen as a win for FTX, who submitted a bid attempt for Voyager Digital back in July with no traction. Related Reading: Binance Coin Could Be Set For A Litmus Test, Eyes $280 Featured image from Pexels, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike.

Crypto News

Cardano Price Surges, Will The Bulls Hold The Recovery?

Cardano price has been pushed up on its chart by the bulls at the time of writing. In the past day, Cardano moved up 2%. Over the last week, the price action of the altcoin wasn’t positive as it lost most of the gains in the week. Continued buyer recovery could push ADA past its next resistance level. At the time of writing, however, ADA was trading sideways. The altcoin has remained sandwiched between $0.50 and $0.44, respectively, over the past couple of weeks. Although buying strength tried to recover on its chart, selling strength was still dominating at the time of writing. The support zone for Cardano price rests between $0.44 and $0.40, respectively. Cardano has been one of the altcoins that have moved against the tide. Bitcoin, however, showed signs of appreciation over the last 24 hours. ADA bulls can quickly fade out if the coin’s buying strength doesn’t move into the positive zone. Cardano Price Analysis: One Day Chart ADA was trading at $0.46 at the time of writing. Over the last 24 hours, the coin broke past one of its resistance levels. The immediate resistance mark for Cardano was $0.49. If the bulls manage to topple over the $0.49 price level, then the bulls can stay put for a longer time. If buyers don’t come forward, Cardano price will fall to $0.43 and then below the $0.40 mark. The amount of the altcoin traded in the past session declined, despite a rise in buying strength. This signified the dominance of the sellers in the market. Technical Analysis The altcoin displayed signs of recovery on the one-day chart. Technical indicators pointed toward the bulls taking over. At the time of writing, the Relative Strength Index was below the half-line, indicating that buying pressure remained greater than selling pressure. Cardano price was below the 20-SMA line, and that signified less demand as sellers were driving the price momentum in the market. With a push from the buyers, ADA could travel above the 20-SMA and 50-SMA lines, invalidating the bearish thesis. Related Reading: Bitcoin Price Slips Below $19,000, Vital Trading Levels To Look Out For ADA’s bulls have still not gained momentum on the one-day chart. As long as buyers don’t overpower sellers’ strength, the bulls will not be able to push the price of the altcoin above the $0.49 mark. The Moving Average Convergence Divergence indicates the price momentum and price action of the altcoin. The MACD underwent a bearish crossover and formed red histograms, which were sell signal for the coin. The Directional Movement Index measures the overall price direction. DMI was negative as the -DI line was above the +DI line. The Average Directional Index was moving up towards the 20 mark, which is a sign of the current price action gaining momentum. Related Reading: Uniswap Price Loses Momentum, Are The Bears Back? Featured image from UnSplash, Chart: TradingView.com

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How Metamask Gambling Is Decentralizing The Online Casino Industry

Metamask gambling has been growing in popularity over the last couple of years. With the rise of the Web3 space and online crypto gambling, Metamask managed to fill in a gap that brings both sectors closer to one another. Crypto casinos are taking more to integrate the Metamask wallets on their websites for gambling activities. Using a decentralized Web3 wallet like this ensures that users of these gambling platforms are able to enjoy features that are not available on more conventional online casinos. Why Metamask Gambling Is Better One drawback of conventional casinos is the arduous sign-up processes that are usually associated with them. However, casinos had started to move towards accepting crypto deposits and withdrawals, which, over time, had required less stringent sign-up processes. But even this was not a seamless process. This is where Metamask gambling enters the picture. Metamask is a Web3 wallet that allows users to interact directly with cryptocurrency networks. It had started out on the Ethereum blockchain but had since expanded to include other blockchains such as BSC, Avalanche, etc. It comes in the form of a browser extension and mobile application from which users can directly connect to Web3 websites. It is also an easy-to-use hot wallet where users can receive coins by simply copying their addresses to forward to the sender. Given this, Metamask has found a natural home in the online gambling industry. Gambling websites are able to integrate the Metamask wallets directly on their platforms, making it possible for users to register or log into the website using the wallet, as well as processing faster deposits and withdrawals. Best Metamask Casinos Metamask gambling casinos have been known to provide some or all of the integrations mentioned above. In some cases, some casinos will offer the option to deposit with Metamask only or the option to use the hot wallet as a means of authorization. So, here are the top 3 Metamask gambling casinos that you should look at. Bitcasino Bitcasino is arguably one of the best Metamask gambling casinos in existence. It offers full functionality with Metamask, making it a one-stop shop for all things Metamask gambling. Users can register and log into the platform using their Metamask wallets. Bitcasino also takes this one step further by offering deposits and withdrawals using Metamask. Users can also use other tokens on the wallet, such as USDT, on the Bitcasino website. Players should, however, note that there are some things not offered by Bitcasino in this regard, such as a welcome bonus for ETH players. Users may also be required to complete a KYC verification when the casino requires it. Nevertheless, Bitcasino offers beloved slot games, as well as a wide variety of live casino games. The betting platform is also one of the few crypto casinos that offer betting on eSports. However, users cannot place crypto bets on games such as Crash or Dice. BC.GAME BC.Game has been pretty much the only Metamask gambling platform that supports the BSC network. This casino allows the direct integration of Metamask but for deposits. Users can also use the wallet to carry out authorizations on the platform. And unlike Bitcasino, BC.Game supports a much wider array of tokens, including ETH and MATIC. While it does have a welcome bonus, there is no stable welcome bonus on the platform. Also, similar to Bitcasino, BC.Game can also require users to go through KYC verifications. However, users get one free spin daily with a prize of up to 1 BTC. Sportsbet.io The third on the list is Sportsbet.io. It is a Metamask gambling platform that allows a minimum deposit of 10 USDT and offers a stable welcome bonus, unlike the others. Users can get up to 2000 wager-free spins that are worth 200 USDT. Furthermore, users can use their Metamask wallets to authorize their accounts, as well as make deposits and withdrawals. It also accepts other tokens available on the hot wallet, such as ETH and SOC. Like the others, Sportsbet.io comes with its own disadvantages, such as KYC verification and the fact that there are no provably fair crypto games. However, the betting platform is extremely popular and is currently the principal sponsor of the English Premier League football club Watford FC. Conclusion Metaverse gambling platforms are still very new, but they have already proven their value to the online crypto gaming space. As more platforms innovate toward integrating Metamask gambling, these advantages are bound to become more apparent to the gambling community. But for now, the platforms offering Metamask gambling are a small pool and only support a handful of tokens at this time.   Image by Alexa from Pixabay

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5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

5 leading web3 Entrepreneurs from Australia and New Zealand share their exponential success and advice

These following entrepreneurs have not only scaled significant opportunities in the web2 market but have also transitioned and applied their genius in the web3 and crypto space. Already in just a short few years and months, they have created incredible success and communities. Five of the fastest upcoming names share their insights into web3 and […]